E.ON SE to acquire Innogy from RWE

E.ON SE has agreed to acquire Innogy SE from the German utility company RWE AG. Through the acquisition, E.ON gets Innogy’s energy networks and customer operations, and RWE takes on the renewable businesses of both E.ON and Innogy.

The deal values Innogy at ca. EUR 22 billion (43 billion if debt is included), and it involves a complex exchange of both shares and assets. E.ON acquires RWE’s 76.8% stake in Innogy and gives 16.7% E.ON’s equity to RWE. Additionally, E.ON will pay EUR 5.2 billion to buy out Innogy’s minority shareholders, and RWE...